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5 February 2019 – Indices are up, uncertainties in Oil, Gold

Indices
Dow Transportation closed at 10250.74 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 65.85. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy. 

Dow Industrial closed at 25411.52 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 187.95. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy. 

Russell 2000 closed at 1520.2255 with a small doji candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 11.49. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. 

Nasdaq 100 closed at 7023.5208 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 69.81. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.

S&P 500 closed at 2737.70. with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 14.95. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.    

Metals and Commodities
WTI Crude oil futures (CL) closed at $53.72 per barrel with a bearish candle below its 8 EMA, 200 SMA and above its 21 EMA, 50 SMA. Daily trading range was 1.74. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy.    

Gold futures (GC) closed at 1319.3 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 6.2. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy.

Commodities (DBC) ETF closed at 15.60 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.1088. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.   

Bonds
Bond futures (/ZB) closed at 145’24 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 1.0937. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.  

High Yield bond ETF (HYG) closed at 85.18 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.39. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. 

Currency
The dollar index ($DXY) closed at 96.074 with a bullish candle above its 8 EMA, 21 EMA, 200 SMA and below its 50 SMA. Daily trading range was 0.309. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy.      

EUR/USD closed at 1.405 with a bearish candle below its 8 EMA, 21 EMA, 200 SMA and above its 50 SMA. Daily trading range was 0.0039. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell. It is in a weekly Squeeze.

USD/JPY closed at 109.95 with a smal bullish candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range was 0.263. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. 

Relative Strength – Sectors On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLI, XLK, XLE, XLF and XLY.

On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLI, XLE, XLY, XLK and XLF respectively.  

Market Internals
Market Sentiment is bullish. Market Breadth is sloping upwards showing more gainers to losers. Volume Acc/Dis is sloping upwards and showing accumulation. Skew is at 123.42. Vix is at 15.57 and Vix Futures is at 16.51.   

The Week Ahead
The indices continue to trend upwards. Skew is normal. Vix and Vix futures continue to pullback. The prognosis is for the bullish trend to continue.

To YOUR wealth!
Would you like to learn to trade stocks, Options or Futures? Drop us an email at jefftohch@gmail.com or call +6010 4343 948. If you have been an unsuccessful trader and need personal tutorship, we can provide you with personal coaching to take you to be a profitable trader.


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